thank our summary. start today. joining for slide X income on with and us afternoon, second Good XXXX you fiscal quarter We'll statement
portfolio Our capital structural quarter second results and reflect evolution, continued growth, continued our return commitment.
key The second quarter's we metrics financial our provided with broadly had in in of performance was all back July. line
provide and midpoint group into guidance demand the All of billion the insight sales up the year $X.X business Our versus business for end and the quarter, our revenue Mike ranges. high Shortly, quarterly our respective groups environment. four net range. approximately totaled will guidance our sales toward additional ago, their X% of exceeded of a
net our adjusted operating Adjusted reflected range and a was of X% guidance income which $XXX Our midpoint year second decrease was ago. from income million. above a million, the was $XXX quarter
from high the highlights. further was $X.XX, second earnings EPS towards which range, when and our which a guidance non-cash Our GAAP statement $X.XX, for I'll other was end gain share per we of income the large diluted was benefited quarter our our adjusted discussing as explain
Now, quarterly monetization new resumption significant financial new is as our capturing top-line a we XXXX our of we've reflecting of and X the portfolio been into business Sketch-to-Scale growth, bookings expansion turn to highlights. realized from wins slide for Fiscal businesses. shift and our
adjusted Our profit totaled our million, gross second gross $XXX and adjusted margin was quarter X.X%.
our investor in quarter, But, in reflected profit our basis from at compared discussed year day was is again year dollars margin 'XX an adjusted year. our this As quarter and increased fiscal as investment that and gross last May point investments to grew slightly ago. costs a last and adjusted again, decrease resulted XX gross in a
our to in of to strategic support purposefully our line engineering design technologies support spend continued In new long-term our this levels to invest investment our reflected and our with process to prior continue system, innovation of Nike. further and new with and capabilities guidance, footprint. quarter our initiatives, partnership the business elevate in We our automation to development expand and
new, month. this our end the We the completed be transition that are state-of-the-art to by factory pleased track purpose-built on of into is and
pressured be up under-absorbed sequentially overhead. margins Nike In with our ramping and of new was which the $XXX launched programs this transition, costs to levels start-up will new quarter large of we through Beyond second this to a the year-over-year. several modestly amounted product revenue. due SG&A These slightly our adjusted high and foundation million, down us providing balance year, of which quarter, expense programs
recent absorbing acquisitions reflective expansion expand of as SG&A and our and also centers, of is investments. SG&A component the costs of our As design we and innovation associated engineering while a reminder, R&D design is with incremental a and costs additional
entirely our Our ROIC, of businesses at operating to our invest was decrease capital, income the reflect Sketch-to-Scale invested levels was in and was continued levels to our as a modest quarterly almost margin adjusted and above dampened it be Return but well margin to which or capital, X%, vision. this business year-over-year, for which our investments million, profitability adjusted XX%, new on required our cost and our in attributed does we $XXX support operating year. came increased of
slide our X operating group. for by Turning performance to business
equated in a adjusted adjusted million X.X% CEC margin. business Our operating which operating to generated $XX profit,
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saw $XX generated adjusted due in a new strong solid demand ramping adjusted million profit, pressured operating several operating achieving margin, sustaining range and and the growth this X% health which going startup which short-term revenue, achieved X%. The we programs, This below quarterly X.X% is forward. to costs. business customer driven IEI of strong to margins record by trend targeted anticipate business was Our
its still as However, to to next adjusted we intended operating this expect return quarter. range margin group target
modestly invest posted engineering capabilities, comments. our up solutions higher over while turn operating rate of was which a X stable business Lastly, its our year, quarter adjusted Please the business expense continues margin, came to next-generation and $XX ability design inside than and its operate its delivered HRS to slide environment and prior to guidance, $XX level. to operating million primarily interest higher and outstanding quarterly adjusted margin was other expand actively the This develop for level the in debt. statement to other and better target sustaining interest healthily for profit a driven range. income record profit, Net but X% million, in by
tax expense for roughly approximately range. of reflecting income and rate $XX adjusted our million, was XX% tax income adjusted guidance the quarter within second Our an
EPS, stock-based a to from GAAP net when that unchanged, as of tax Our expense, reconciling $XX of anticipate impact from million amortization impact our range There and of between range long-term impact $XX are XXXX an quarterly adjusted XX% including a executing discussed. we compensation XX% fiscal elements previously and remains $X.XX rate expense. million to several that different in have and $X.XX intangible
net successful associated financial After with results. million, and elements statements. financing composition or $XXX a evolved Elementum. round, non-cash primarily deconsolidation We financials, certain GAAP of deconsolidate our other we this $X.XX, our Elementum Board quarter, realized as from gain but a the non-cash and from is to gain of it adjusted the During changes required in reflected were our result, a we excluded
its $X.XX engagement recorded certain Now mounting And going forward, our other Elementum. that contingencies lines. reflect other a to our losses million, impact. or in quarter profits costs of finally, charges, change note important It and we partnership this and loss associated to $XX we or share is the interest with our strategic with during not in does
from $XX we ownership the other reflecting range a $XX our million increased environment. interest losses and will rate minority higher forward, interests impact we our million, in As look and to expense interest line anticipate and of of be the
Turning X, to working net us review cash our slide and let flows capital.
We flows, our generate which operate, business. grow invest, continue strong and operating to cash to enables us
targeted generated of $XXX generating capital straight flow XXth quarter quarter $X.X of that current result of and to and greater in capital prospective our stable, X%. amounted Net range within This We of range million. of to to net X% X.X% was sales as working X%. to cash quarterly of a $XXX remaining our as business will our million our sales, operations, within believe remain was percentage working net targeted we around X% than mix our billion, from our
expense, relatively our and our support our we Sketch-to-Scale of and we with HRS capital investment $XXX this expenditures a drive earmarked greater IEI innovation evolution. million, flat expanding platform saw continued as our and to against support businesses depreciation automation at quarter, in to This our portion
million cash the flow Our $XX for free resulting quarter. was
shares X.X million, our This period. greater generation approximately for for free quarter, repurchased $XX than cash the which we was significantly flow million roughly
firmly We to turn capital have a on commitment track our our we return to to remain Please to annual over review to structure. XX% of and consistently shareholders, return flow. value cash slide free our X
Our remain healthy. metrics credit
$X.X year and near-term XXXX, until over have in we We have liquidity. billion calendar debt no maturities
I we We and term. balanced support Prior evolution a the we support like call businesses traction continue hyper-focused to over capital remain and Mike, have in leveraging technologies Sketch-to-Scale business while world-class meaningful to to the to turning that portfolio cross-industry our the on and operate to capabilities structure, long over to industries. and with would flexibility our and strength our strategy, investing capture to new re-emphasize
Now, I'll the call to turn Mike. over
